the Senate Majority leader has stooped to all time low, by citing an unnamed source that Mitt Romney has not paid his taxes for the last ten years....this weasel know no bounds, wonder how Harry can sleep at night or look at himself in the mirror...is staying in power so damn important that one has to resort to throwing out such claims...a sad chapter in US politics

Buzz

08-01-2012, 10:09 AM

the Senate Majority leader has stooped to all time low, by citing an unnamed source that Mitt Romney has not paid his taxes for the last ten years....this weasel know no bounds, wonder how Harry can sleep at night or look at himself in the mirror...is staying in power so damn important that one has to resort to throwing out such claims...a sad chapter in US politics

All Mitt has to do is release his tax returns to make Harry and the Democrats look really bad now.

road kill

08-01-2012, 10:16 AM

All Mitt has to do is release his tax returns to make Harry and the Democrats look really bad now.

Sort of like Fast & Furious and several other documents from Obama, EH??

And, BTW...how does that address Reids insane libelous accusations based on NOTHING!!!!

Jason Glavich

08-01-2012, 10:34 AM

I bet this will get more attention from the IRS than the BC issue and the SS number from a state he never lived in, oh and that pesky passport deal. No worries they will devote a lot of hours in the IRS to proving he did not pay even if he did.

gmhr1

08-01-2012, 11:35 AM

No matter what the Dems say its the gospel and no matter what is true and said about Obama it just bounces off. Dont you think Mitt would be in jail if he hadn't paid taxes for the last 10 years I think someone would have found this out, not Harry Reid. He doesnt have to release all his taxes only whats required by law if you dont like it work to change the law. Dont blame him because he knows how to handle his money, how to make wise investments and pay lower taxes I wish we knew how to do that.
Ann Romey wore a $900 blouse on an interview and was torn apart for it Michelle out of touch, to rich......Michelle Obama wears a $6800 jacket to the Olympics and shes a fashion icon this from a lady who touts that she shops at target. I can't stand this double standard Romney is a succesful business man he knows how to create jobs Obama 's big business was probabaly a lemonade stand that he didnt even make himself.

Don't forget. It was Michelle Obama who wore $500 tennis shoes to a soup kitchen.

How does that relate to the poor folks?

Uncle Bill

08-01-2012, 02:07 PM

Really pathetic how little the socialist Democrats have to run on.

Also fun to watch how many black Christians Obama has alienated by his support of the same sex marriage crowd. Sounds like several black pastors have organized against him...not that they will vote for the Republican candidate, but they are sounding like they just won't vote.

Much like Obama's shutting down the XL pipeline and alienating the unions. Eventually the followers he has always taken for granted will realize he's not in their corner. Doubt it will mean votes for Romney, but a no-vote for Obama can't hurt.

UB

Buzz

08-01-2012, 02:23 PM

Really pathetic how little the socialist Democrats have to run on.

Also fun to watch how many black Christians Obama has alienated by his support of the same sex marriage crowd. Sounds like several black pastors have organized against him...not that they will vote for the Republican candidate, but they are sounding like they just won't vote.

Much like Obama's shutting down the XL pipeline and alienating the unions. Eventually the followers he has always taken for granted will realize he's not in their corner. Doubt it will mean votes for Romney, but a no-vote for Obama can't hurt.

UB

Another thread of comments with nothing to do with the original post. Big surprise...

road kill

08-01-2012, 02:28 PM

Really pathetic how little the socialist Democrats have to run on.

Also fun to watch how many black Christians Obama has alienated by his support of the same sex marriage crowd. Sounds like several black pastors have organized against him...not that they will vote for the Republican candidate, but they are sounding like they just won't vote.

Much like Obama's shutting down the XL pipeline and alienating the unions. Eventually the followers he has always taken for granted will realize he's not in their corner. Doubt it will mean votes for Romney, but a no-vote for Obama can't hurt.

UB

Another thread of comments with nothing to do with the original post. Big surprise...

He got your attention!!!!

PamK

08-01-2012, 02:53 PM

Dont you think Mitt would be in jail if he hadn't paid taxes for the last 10 years I think someone would have found this out, not Harry Reid.

Maybe he didn't pay any taxes because he didn't owe any. That is what I thought when I read the article. Was it last year that GE didn't pay any taxes?

Jim Danis

08-02-2012, 08:40 AM

If he ditched paying taxes for the last 10yrs wouldnt that have come out in 08 when he was running?! I would also think that the IRS, being in Obama's pocket, would have let it leak that they are investigating Romney for tax evasion. As far as the SOURCE is concerned, how would someone other than Romney's CPA or the Romney's themselves have knowledge that he didn't file his returns? Harry Reid is about as low as they come. As a side note, that voice of his absolutely grinds my stones. About as annoying as the fingernails on the chalkboard sound.

zeus3925

08-02-2012, 09:01 AM

If he ditched paying taxes for the last 10yrs wouldnt that have come out in 08 when he was running?! I would also think that the IRS, being in Obama's pocket, would have let it leak that they are investigating Romney for tax evasion. As far as the SOURCE is concerned, how would someone other than Romney's CPA or the Romney's themselves have knowledge that he didn't file his returns? Harry Reid is about as low as they come. As a side note, that voice of his absolutely grinds my stones. About as annoying as the fingernails on the chalkboard sound.

Leona Helmsley didn't pay her taxes for years until she made herself a target by saying that rich people don't pay taxes, little people pay taxes. Only then did she go to jail.

At least Willard didn't brag about it. Time to cough up the returns to prove Harry Reid is talking through a big empty ten gallon hat. Let's see.

huntinman

08-02-2012, 09:20 AM

Leona Helmsley didn't pay her taxes for years until she made herself a target by saying that rich people don't pay taxes, little people pay taxes. Only then did she go to jail.

At least Willard didn't brag about it. Time to cough up the returns to prove Harry Reid is talking through a big empty ten gallon hat. Let's see.

it's the old "when did you quit beating your wife"? routine... he should just tell the Dems he will release his taxes when Barack releases his school transcripts, copies of his mortgage on his Chicago home, and the truth about Fast & Furious... till then... pound sand.

road kill

08-02-2012, 09:42 AM

Leona Helmsley didn't pay her taxes for years until she made herself a target by saying that rich people don't pay taxes, little people pay taxes. Only then did she go to jail.

At least Willard didn't brag about it. Time to cough up the returns to prove Harry Reid is talking through a big empty ten gallon hat. Let's see.

Is that what will do it for ya????:razz:

zeus3925

08-02-2012, 10:13 AM

Is that what will do it for ya????:razz:
Harry Reid's picture isn't one on my mantle. But, this does bring up a political gun fight at high noon. Going down to the OK corral?

zeus3925

08-02-2012, 10:16 AM

it's the old "when did you quit beating your wife"? routine... he should just tell the Dems he will release his taxes when Barack releases his school transcripts, copies of his mortgage on his Chicago home, and the truth about Fast & Furious... till then... pound sand.

You might want to say an inquiring public wants to know, eh?

gmhr1

08-02-2012, 11:06 AM

I would like to see the taxes for the last 10 years from all them I think that should be a new law before ANY one is elected

huntinman

08-02-2012, 02:01 PM

You might want to say an inquiring public wants to know, eh?

That's what the public has been saying to Obama for 4 years... he just shrugs.

zeus3925

08-02-2012, 03:06 PM

As I say, the outcome of this little situ will be which gunslinger has the most accurate shot (data). Let's see how this plays out.

mjh345

08-02-2012, 04:40 PM

Romney reportedly has an IRA worth $100,000,000. IRA accounts have been in existence for less than 40 years and your annual contributions are limited. I believe it was limited to $2500 initially and has had a few increases to its current level

It'd be near impossible to have a 100 million IRA without doing some less than honest bookkeeping or using unrealistic arbitrarily low valuations. There are only 2 possibilities that could give someone a $100,000,000 IRA as I see it

1) Creative accounting....... which to me would equate to dishonesty or Cheating to get to this level
2)Unreal never before seen brilliance in finding investments that can yield to an extent that he could make an IRA with the contribution constraints put on it to grow to $100,000,000

Obama has already done enough to show me that voting for him aint gonna happen. That doesn't mean that Romney gets my vote, as Im not overly enamored of him.

If Romney would give us the transparency we deserve and release his tax records then I would be able to make an informed decision.
If in fact he is as brilliant as scenario #2 would require he should get every Americans vote. He should be able to retire the debt and make every citizen rich beyond our wildest dreams with that type of Midas touch at the helm in only a single term

However if scenario #1 is in fact the case then I wont be able to vote for him
Additionally Id have a hard time pulling the lever for any person who wants the most important job on our planet, but refuses to release information that we the unwashed that he wishes to lead are routinely required to reveal for simple loans, job applications and other things

Now put me in the same boat as Harry and let the name calling begin

BonMallari

08-02-2012, 04:59 PM

those that are calling for Romney to release his tax records are just adding to the fodder....Harry Reid throws a stink bomb and hope the stench sticks...so he releases his records..what does it show...it shows that he is a wealthy individual, giving Dems the monster they want, they paint Romney as a man out of touch because of his wealth...class warfare all over again....look at all the allegations already flying about million dollar IRA's...do you think that Romney is going to release returns if they are less than bulletproof

Personally I think he is playing the hand just like a good poker player...the last cards havent been dealt yet, there is no need to show the hole cards until the final raise, which will be at debate time...I see the scenario where Romney calls out BHO with I will show you my income tax returns when you unseal your school records,law records,...then thats where the dealer (public) calls for both players to show their cards

mngundog

08-02-2012, 06:03 PM

those that are calling for Romney to release his tax records are just adding to the fodder....Harry Reid throws a stink bomb and hope the stench sticks...so he releases his records..what does it show...it shows that he is a wealthy individual, giving Dems the monster they want, they paint Romney as a man out of touch because of his wealth...class warfare all over again....look at all the allegations already flying about million dollar IRA's...do you think that Romney is going to release returns if they are less than bulletproof

Personally I think he is playing the hand just like a good poker player...the last cards havent been dealt yet, there is no need to show the hole cards until the final raise, which will be at debate time...I see the scenario where Romney calls out BHO with I will show you my income tax returns when you unseal your school records,law records,...then thats where the dealer (public) calls for both players to show their cards

I could careless if he is worth 20 million or 2 billion, I can't recall a Presidential candidate that wasn't rich, what I want to know is as is crooked like Obama appears to be. If he has nothing to hide there is no use to appear like your hiding something.

Buzz

08-02-2012, 06:08 PM

Romney reportedly has an IRA worth $100,000,000. IRA accounts have been in existence for less than 40 years and your annual contributions are limited. I believe it was limited to $2500 initially and has had a few increases to its current level

I think current limits are in the $5-6k range for a standard IRA. Most people don't realize that there is an SEP IRA for self employed individuals or small business owners. The contribution limits go to 20-25% of income depending on the plan and situation. The contribution limit is currently $50k. The contributions are 100% deductible as a business expense. This is what we do at our company. However, my balance is way way below that $100,000,000 mark.

Some information on the plan is here:

http://www.sepira.com/

Now, I don't know how long these plans have been in existence. I have been doing it for 12 years now. I am positive that the limit has increased over the years, but lets give him the benefit of the doubt and assume the plans have been around for 20 or 30 years and that you could always contribute $50k.

If you made annual contributions of $50k for 20 years, you would need an annual rate of return of 40% on your investments.

If you made annual contributions of $50k for 30 years, you would need an annual rate of return of 23% on your investments.

OK, now say you put in the max and had a few blockbuster years at the beginning of your plan, this would help you tremendously in making your $100,000,000 goal.

Anyhow, just wanted to throw a bit of investing education into an otherwise waste of time. :cool:

Buzz

08-02-2012, 06:12 PM

I could careless if he is worth 20 million or 2 billion, I can't recall a Presidential candidate that wasn't rich, what I want to know is as is crooked like Obama appears to be. If he has nothing to hide there is no use to appear like your hiding something.

Obama isn't my favorite guy contrary to what people on here would think. There is plenty not to like about the guy. It's just that the attacks on him here are so outrageous, I feel that someone needs to try and defend him and try and give the other side. However, I just don't see him as crooked. I hate seeing guys like Daley and Geithner around him, made me sick from the start when he put up Geithner for Treasury... I think if he had put some other economic guys around him at the start we would be better off now than we are. Don't worry, y'all would have hated the guys I would have liked to have seen in there.

HPL

08-02-2012, 09:06 PM

Romney reportedly has an IRA worth $100,000,000. IRA accounts have been in existence for less than 40 years and your annual contributions are limited. I believe it was limited to $2500 initially and has had a few increases to its current level

Before everybody goes nuts, reported by whom?

Gerry Clinchy

08-02-2012, 10:32 PM

Suppose that IRA that Buzz mentions had been invested in gold? Might that have shown that kind of return needed?

M&K's Retrievers

08-02-2012, 11:31 PM

Obama isn't my favorite guy contrary to what people on here would think. There is plenty not to like about the guy. It's just that the attacks on him here are so outrageous, I feel that someone needs to try and defend him and try and give the other side. However, I just don't see him as crooked. I hate seeing guys like Daley and Geithner around him, made me sick from the start when he put up Geithner for Treasury... I think if he had put some other economic guys around him at the start we would be better off now than we are. Don't worry, y'all would have hated the guys I would have liked to have seen in there.

Which ones? Please don't say all of them.

mjh345

08-03-2012, 12:19 AM

Before everybody goes nuts, reported by whom?
The article I read came from that notoriously socialistic rag called the Wall Street Journal. Some estimates put the worth of his IRA as high as $300,000,000
My son just entered his freshman year at the U of Missouri. He is getting no student loans, Pell Grants or any other assisstance other than academic scholarship. The admissions office at this state university requested tax returns, voter registration, copies of my property tax reciepts, drivers license and other things from me. Why I have no idea

Call me old fashioned, but I feel that the govt is to serve the citizens not vice versa. In that light, I feel if they can ask me for my tax returns so my son can go to a state school that is supported by my taxes {and now tuition} I kinda feel like someone who wants to run for POTUS should be required to release at least that much

I would also wonder why Mr Romney wouldn't willingly embrace Transparency
Im not buying Bon's logic in post 22 where he says this is just a Democratic ploy to make him release his tax returns so they could paint him as a wealthy man. I think that horse is already out of the barn Bon

gmhr1

08-03-2012, 01:11 AM

I agree he should show what the law says 2 years, If this is a bad law we need to work to change it but he doesn't have to go above and beyond the law.

If I was hiding from the IRS hadn't paid taxes in the last 10 years and waiting for the IRS to come and arrest me the last thing I would do is run for President.

BonMallari

08-03-2012, 04:20 AM

The article I read came from that notoriously socialistic rag called the Wall Street Journal. Some estimates put the worth of his IRA as high as $300,000,000
My son just entered his freshman year at the U of Missouri. He is getting no student loans, Pell Grants or any other assisstance other than academic scholarship. The admissions office at this state university requested tax returns, voter registration, copies of my property tax reciepts, drivers license and other things from me. Why I have no idea

Call me old fashioned, but I feel that the govt is to serve the citizens not vice versa. In that light, I feel if they can ask me for my tax returns so my son can go to a state school that is supported by my taxes {and now tuition} I kinda feel like someone who wants to run for POTUS should be required to release at least that much

I would also wonder why Mr Romney wouldn't willingly embrace Transparency
Im not buying Bon's logic in post 22 where he says this is just a Democratic ploy to make him release his tax returns so they could paint him as a wealthy man. I think that horse is already out of the barn Bon

But with actual numbers it opens up everything to everyone.....think of it this way,say for example Mitt was able to deduct some outlandish expense (but perfectly legal) like depreciation on the west coast home in San Diego...how much does that enflame joe Public that is about to get his home foreclosed in Ohio....we could take anyone's tax return and scrutinize it,but just because you or I may have a more creative accountant or one more familiar with the tax code, it may seem illegal to the uninformed...

The BHO campaign is changing the narrative, they cant run on the incumbent record of POTUS, they cant attack the Romney character because he doesnt have that chink in his armor, so you attack his wealth and make him so hated by those less fortunate..

Its already working, they have you examining how in the heck he could have amassed an IRA of such epic proportions....do you think Mitt does his own taxes ? Hardly...he could single handedly keep an accounting firm in the money with his account alone...he is stinking filthy rich, certainly richer that John Kerry (since that money was all his wife's ) same with McCain...

I am not opposed to Mitt showing his records, but lets play on an even level..you show me BHO's records from Harvard,Columbia, and Occidental College, and Mitt shows his from BYU and Harvard....

road kill

08-03-2012, 06:55 AM

I find it somewhat amusing that the secular progressives want you to vote for a guy that has trashed what little economy was left over a mean horrible guy who actually knows how to work economics.

Guy #1--$13 trillion debt
Guy #2--$100 million in the bank

Splain how guy #1 is better to handle my finances???:D

Just askin'...........

Gerry Clinchy

08-03-2012, 09:19 AM

It occurs to me ... has BHO released 10 years of his tax returns? or Biden?

We know that Pelosi refuses to do so, saying that she would do so if she were running for President. Has Reid released his tax returns in each year he has been re-elected?

When was the last time a Pres nominee opened 10 years of tax returns?

I would agree with an earlier post that a high-profile figure like Romney would have had the IRS closely scrutinizing his returns over the years. All the wealthy Obama supporters have taken a similar position: they will pay only the taxes that they MUST, not any more. If some of these very wealthy people use tax law to avoid paying higher taxes, it is not the fault of the people who abide by the law, it is the flaw of the law itself.

Buzz

08-03-2012, 10:47 AM

It occurs to me ... has BHO released 10 years of his tax returns? or Biden?

We know that Pelosi refuses to do so, saying that she would do so if she were running for President. Has Reid released his tax returns in each year he has been re-elected?

When was the last time a Pres nominee opened 10 years of tax returns?

I would agree with an earlier post that a high-profile figure like Romney would have had the IRS closely scrutinizing his returns over the years. All the wealthy Obama supporters have taken a similar position: they will pay only the taxes that they MUST, not any more. If some of these very wealthy people use tax law to avoid paying higher taxes, it is not the fault of the people who abide by the law, it is the flaw of the law itself.

I posted the link on another thread. Not only did they released returns, they posted them up onto the internet so anyone can download them and look through them. There are at the following link:

http://www.barackobama.com/tax-returns/

Buzz

08-03-2012, 10:52 AM

But with actual numbers it opens up everything to everyone.....think of it this way,say for example Mitt was able to deduct some outlandish expense (but perfectly legal) like depreciation on the west coast home in San Diego...how much does that enflame joe Public that is about to get his home foreclosed in Ohio....we could take anyone's tax return and scrutinize it,but just because you or I may have a more creative accountant or one more familiar with the tax code, it may seem illegal to the uninformed...

The BHO campaign is changing the narrative, they cant run on the incumbent record of POTUS, they cant attack the Romney character because he doesnt have that chink in his armor, so you attack his wealth and make him so hated by those less fortunate..

Its already working, they have you examining how in the heck he could have amassed an IRA of such epic proportions....do you think Mitt does his own taxes ? Hardly...he could single handedly keep an accounting firm in the money with his account alone...he is stinking filthy rich, certainly richer that John Kerry (since that money was all his wife's ) same with McCain...

I am not opposed to Mitt showing his records, but lets play on an even level..you show me BHO's records from Harvard,Columbia, and Occidental College, and Mitt shows his from BYU and Harvard....

I sure as heck don't do my own taxes. But when I sign them and send them to the IRS, I am taking full responsibility for what my CPA did. So, the buck stops with me...

coachmo

08-03-2012, 10:57 AM

Do any of you mental-midgets actually believe Mitt Romney hasn't paid taxes in 10 years if he owed taxes? A while back one of you left-wing dummies told me to stop belly aching over an issue well the same should be said here. Come on this is the left doing what is does best (actually nothing) except stirring up class envy, promoting hate, etc. You guys are sickening!!!

gmhr1

08-03-2012, 11:06 AM

Obama sends his munchkins in to spread these nasty rumors. He plays dirty His true colors come shining thru. Don't look at what's going on with your country and what I've done to it instead look over There are people out there that believe this stuff that's what's so sad he has them under his spell if anyone really opened their eyes and looked at what Obama has done, the lies he has told no one would want him.

menmon

08-03-2012, 11:30 AM

The deficit is $1.3trillion up $4.5 billion from last year. Please learn how to count your Zeros. Spending in absolute dollars is down $600 billion. All this done with a smaller economy.

I'm pretty sure Mitt does not want folks to see his creative accounting. I'm sure the right's view is he is brilliant since he figured out how not to pay taxes, while the working right gets a health chunk taken from their checks every pay period.

road kill

08-03-2012, 11:40 AM

The deficit is $1.3trillion up $4.5 billion from last year. Please learn how to count your Zeros. Spending in absolute dollars is down $600 billion. All this done with a smaller economy.

I'm pretty sure Mitt does not want folks to see his creative accounting. I'm sure the right's view is he is brilliant since he figured out how not to pay taxes, while the working right gets a health chunk taken from their checks every pay period.

Really????

http://www.usdebtclock.org/

All righty then...........

Buzz

08-03-2012, 11:56 AM

Really????

http://www.usdebtclock.org/

All righty then...........

You two are talking apples and oranges.

Debt and deficit are two different things.

Deficit is not 13 trillion...

road kill

08-03-2012, 11:59 AM

You two are talking apples and oranges.

Debt and deficit are two different things.

Deficit is not 13 trillion...
I did write deficit, and it is debt.

That changes everything, doesn't it Buzz??

I mean $1.3 trillion in deficit is OK??

And $15 trillion is a manageable debt, right?

So why would we want a guy that can manage finances over a guy that can't??

My bad...........

menmon

08-03-2012, 12:31 PM

Because he has done a much better job with it than the republicans that have held the office in our lifetimes.

road kill

08-03-2012, 12:33 PM

Because he has done a much better job with it than the republicans that have held the office in our lifetimes.
The facts and numbers tell a different story.
By what measurement known to man is this guy doing a good job with the economy?

gmhr1

08-03-2012, 12:42 PM

I would be ashamed to call myself a Democrat after what Harry Reid has said, even Jon Stewart had the guts to put Reid in his place. More Dems should stand up and say enough is enough. Run your campaign with your record and let the chips fall where they may.

BonMallari

08-03-2012, 01:21 PM

I could careless if he is worth 20 million or 2 billion, I can't recall a Presidential candidate that wasn't rich, what I want to know is as is crooked like Obama appears to be. If he has nothing to hide there is no use to appear like your hiding something.

Is Romney's tax return going to determine whether or not you vote for him? seriously doubt it since by your statement you are assuming that both candidates are crooked

Just saw a new ad on TV during the Olympic coverage...they led with how much Romney made (20 million) but only paid 14% in taxes...well of course he did, because his investment income is taxed at a different rate than John Q Public that is taxed at 30-35 % and has little to no investment income....but who paid more in taxes ?

jeff evans

08-03-2012, 01:29 PM

Sounds like we should be looking for a president that is on welfare and doesn't have two nickels to rub together. Thats what i am hearing at least. A responsible, intelligent, wealthy man who knows how to make money by not spending it sounds prudent to me.....

menmon

08-03-2012, 02:13 PM

I just don't understand why you guys are ok with people that make much more money than you paying less as a percentage of their income than you do. Their is nothing wrong with making a lot of money, but their is something wrong with having less fortunate people carry your water.

Buzz

08-03-2012, 02:19 PM

Sounds like we should be looking for a president that is on welfare and doesn't have two nickels to rub together. Thats what i am hearing at least. A responsible, intelligent, wealthy man who knows how to make money by not spending it sounds prudent to me.....

George Soros has made much more than Romney. So has Warren Buffett. So does that make those liberals more qualified to be president than Romney?

jeff evans

08-03-2012, 02:23 PM

I just don't understand why you guys are ok with people that make much more money than you paying less as a percentage of their income than you do. Their is nothing wrong with making a lot of money, but their is something wrong with having less fortunate people carry your water.

So who paid more in taxes? The "poor guy" or the "rich guy?"

road kill

08-03-2012, 02:26 PM

George Soros has made much more than Romney. So has Warren Buffett. So does that make those liberals more qualified to be president than Romney?
One of them more or less is, isn't he???

menmon

08-03-2012, 02:41 PM

The poor guy did. A $1,000 to a poor guy is his rent...where it is a bottle of wine to a rich guy.

road kill

08-03-2012, 02:54 PM

The poor guy did. A $1,000 to a poor guy is his rent...where it is a bottle of wine to a rich guy.
So??????????????

jeff evans

08-03-2012, 03:04 PM

The poor guy did. A $1,000 to a poor guy is his rent...where it is a bottle of wine to a rich guy.

You answered my question, the rich guy did.

menmon

08-03-2012, 03:13 PM

If that is the way you think....they have done a better job of brainwashing you than I every thought they could.

The good news is that more people in the states that matter see it for what it is.

menmon

08-03-2012, 03:15 PM

Stan lets tax you more so the Romneys don't have to pay taxes....Sooooooooooooooooooooooooooo!!!!!!!!!!!!! !!!!!!!!!!!!!!!!!!!!!!!

ARay11

08-03-2012, 03:30 PM

Taxpayer A: earned $10million and paid in $1.4 million in taxes (14%)
Taxpayer B: earned $200,000 and paid in $58,000 (29%)
Taxpayer C: earned $25,000 and received a check for $3500. (-%)

Who's percentage is appropriate, why don't they all pay the same percentage, and who could more easily afford their tax burden?:eek:

gmhr1

08-03-2012, 03:39 PM

That's why we need to change the tax code don't blame someone that is rich and knows how to keep his money lets make it so we all can work own a home that increases in value and have a tax code where we can keep more of our hard earned money.

road kill

08-03-2012, 03:43 PM

Stan lets tax you more so the Romneys don't have to pay taxes....Sooooooooooooooooooooooooooo!!!!!!!!!!!!! !!!!!!!!!!!!!!!!!!!!!!!

If you progressives get your way, that is exactly what will happen.

As a professional actuary, it is stunning you don't know that.

But nothing surprises me any more.

gmhr1

08-03-2012, 03:47 PM

Harry Reid says he doesn't have any evidence to back up his claim, he's not even sure it's true. Proof that the dems are just making up anything they can to smear Romney. Reid is the senate majority leader shouldn't we expect more from these people.?

luvmylabs23139

08-03-2012, 04:44 PM

I just don't understand why you guys are ok with people that make much more money than you paying less as a percentage of their income than you do. Their is nothing wrong with making a lot of money, but their is something wrong with having less fortunate people carry your water.

I have a bigger problem with those that pay no federal income taxes and get a check from the real taxpayers at tax time. That infuriates me!!!

Socks

08-03-2012, 04:50 PM

Taxpayer A: earned $10million and paid in $1.4 million in taxes (14%)
Taxpayer B: earned $200,000 and paid in $58,000 (29%)
Taxpayer C: earned $25,000 and received a check for $3500. (-%)

Who's percentage is appropriate, why don't they all pay the same percentage, and who could more easily afford their tax burden?:eek:

DING. DING. I'm not a left or right guy, or at least not try to be, but these numbers should wake up everyone. Fine, make millions, just pay your fair share percentage wise. If this means a tax overhaul then fine. The rich have tax lawyers and accountants. Me and my wife have to buy turbotax to do our taxes. Others just have their hands out.

Buzz

08-03-2012, 04:59 PM

Taxpayer A: earned $10million and paid in $1.4 million in taxes (14%)
Taxpayer B: earned $200,000 and paid in $58,000 (29%)
Taxpayer C: earned $25,000 and received a check for $3500. (-%)

Who's percentage is appropriate, why don't they all pay the same percentage, and who could more easily afford their tax burden?:eek:

We should all be calling this what it is. It's the government subsidizing the poor family that can barely afford to keep a roof over his head and food on the table and clothes on the backs of his family or gas in his tank to get him to work and back.

But what it REALLY is, is the government subsidizing the business owner who is either too cheap or has too marginal a business to be able to pay a decent wage.

Maybe you all are right. Maybe the government should stay out of it so that there is more unrest among the poor so they will rise up & stand up for himself, and the marginal businessman will just go out of business and leave it to folks who can run a business.

What really pisses me off is when mega corporations like Walmart are subsidized in this manner for not paying a decent wage and not being responsible for healthcare for their employees. Their employees get negative tax rates and they go on medicaid when they get sick.

Any you all have a nut on for the union guy. They have brainwashed you into putting your focus in the wrong area.

By the way, do you really believe that the guy making $200k is paying a 29% effective rate on federal income tax? I would believe a 29% marginal rate. How many of you have ever seen a tax return on an income like that?

And don't go and start including payroll taxes for medicare and social security, because you're not willing to give that guy earning $25k the same credit.

Down East Labs 217

08-03-2012, 05:07 PM

Taxpayer A: earned $10million and paid in $1.4 million in taxes (14%)
Taxpayer B: earned $200,000 and paid in $58,000 (29%)
Taxpayer C: earned $25,000 and received a check for $3500. (-%)

Who's percentage is appropriate, why don't they all pay the same percentage, and who could more easily afford their tax burden?:eek:

What kind of income did tax payer A have. ? If it is from working than he is underpaying. If it is from investments than he is dead on. Investment income has already been taxed at the higher rate once. He made the money and payed the higher tax when he made it. He invests what he earned and should not get taxed to death a second time. Why should it be taxed at the higher rate twice?

My opinion

Richard

Buzz

08-03-2012, 05:09 PM

Suppose that IRA that Buzz mentions had been invested in gold? Might that have shown that kind of return needed?

Gerry, when you go feeling all sorry for the small business owner, do you take into account benefits like being able to save up to $50k each year and being able to take a business deduction for it, and then being able to earn returns on it tax free in an IRA? Does it bother you that the majority is limited to saving $5 or $6k a year that way? Don't get me wrong, I'm not complaining. I almost have enough to retire because of this benefit.

ARay11

08-03-2012, 05:12 PM

We should all be calling this what it is. It's the government subsidizing the poor family that can barely afford to keep a roof over his head and food on the table and clothes on the backs of his family or gas in his tank to get him to work and back.

But what it REALLY is, is the government subsidizing the business owner who is either too cheap or has too marginal a business to be able to pay a decent wage.

Maybe you all are right. Maybe the government should stay out of it so that there is more unrest among the poor so they will rise up & stand up for himself, and the marginal businessman will just go out of business and leave it to folks who can run a business.

What really pisses me off is when mega corporations like Walmart are subsidized in this manner for not paying a decent wage and not being responsible for healthcare for their employees. Their employees get negative tax rates and they go on medicaid when they get sick.

Any you all have a nut on for the union guy. They have brainwashed you into putting your focus in the wrong area.

By the way, do you really believe that the guy making $200k is paying a 29% effective rate on federal income tax? I would believe a 29% marginal rate. How many of you have ever seen a tax return on an income like that?

And don't go and start including payroll taxes for medicare and social security, because you're not willing to give that guy earning $25k the same credit.

Want me to forward you the return? 29% is the EFFECTIVE rate. All income was W-2.

Buzz

08-03-2012, 05:13 PM

What kind of income did tax payer A have. ? If it is from working than he is underpaying. If it is from investments than he is dead on. Investment income has already been taxed at the higher rate once. He made the money and payed the higher tax when he made it. He invests what he earned and should not get taxed to death a second time. Why should it be taxed at the higher rate twice?

My opinion

Richard

What you are neglecting here is that guys like Romney and other hedge fund managers get taxed this way on carried interest. They make a bundle investing other people's money, then they only get taxed at the 15% rate. In my opinion, they are making money just working but not paying like the rest of workers are because <sarcasm> they are special, they work on Wall Street. </sarcasm>

Buzz

08-03-2012, 05:19 PM

Want me to forward you the return? 29% is the EFFECTIVE rate. All income was W-2.

Don't you have your own business? You have to be including self employment tax which is there to cover payroll tax for SS and Medicare. You shouldn't take credit for that because you all claim the poor guy doesn't pay taxes, but you all are not willing to give him credit for his SS and Medicare tax.

If not, then you should find a better accountant. You should be paying MUCH less than that.

luvmylabs23139

08-03-2012, 05:35 PM

We should all be calling this what it is. It's the government subsidizing the poor family that can barely afford to keep a roof over his head and food on the table and clothes on the backs of his family or gas in his tank to get him to work and back.

NO lets cll this what it is SOCIALISM!!!! THe gov't CONFISCATES from me what I earn and gives it to someone else. If ya can't feed them don't breed them end of story.

coachmo

08-03-2012, 05:59 PM

Isn't it somewhat ironic that the socialists among us always point to successful business people in an attempt to show the ills of capitalism but never the entertainers, athletes, celebrities, etc.? Why exactly is that? I mean lady gaga has made 52 million, tom cruise 75 million, the overly talented kim kardasian 18 million so far in 2012. The list goes on and on! Don't get me wrong I say they can make what ever the market and competition will bear but where is all of the outrage, disdain and hate for all of these people. Left wing thinking people are either the world's biggest idiots or hypocrites!!! Take your pick!

ARay11

08-03-2012, 06:15 PM

Don't you have your own business? You have to be including self employment tax which is there to cover payroll tax for SS and Medicare. You shouldn't take credit for that because you all claim the poor guy doesn't pay taxes, but you all are not willing to give him credit for his SS and Medicare tax.

If not, then you should find a better accountant. You should be paying MUCH less than that.

We own a ranch which is the only reason our rate was only 29% (would have been a bit higher without losses tied to getting the ranch up and running) No mortgage interest to deduct. Make too much money to deduct kids. We both have regular jobs, in upper management, so there aren't any deductions available. If you wonder why I am always ticked off about tax rates, this is the reason.

Gerry Clinchy

08-04-2012, 08:52 PM

I posted the link on another thread. Not only did they released returns, they posted them up onto the internet so anyone can download them and look through them. There are at the following link:

http://www.barackobama.com/tax-returns/
This was kind of interesting reading, but really had to quit after 3 returns.

Obama knows what it's like to earn around $250K/year. He earned $240K in 2000. By 2005, he was earning $1.6 million. In that period of time his home mortgage deduction jumped from $11,000/year to $32,000/yr. Most of the income in 2005 came from his book sales (it appears). However, by then Michelle was raking in over $300K a year, while he was earning about 1/2 that as a Senator (I believe he was still a state Senator at that time).

He neglected to make estimated tax payments, so at the end of the year (2005) he owed the Treasury $430K. I didn't look at 2004 to see whether he should have had a penalty for failure to pay estimated taxes in 2005.

In 2010 he earned a total of $1.382 million. Interestingly, about $820,751 was "foreign" income (countries not specified). He also had $269,700 of income from "other countries" in 2011. In late 2010 and early 2011, he had purchased Treasury bills of $2,768,000, and cashed them in by the end of 2011. I did see that he made some estimated payments in 2010 and 2011.

Yup, I'd say that someone who had $2,768,000 in hard cash to buy Treasury isn't exactly in touch with the man on the street anymore.

Navigation of the pages was slow for me, but I thought it would have been interesting to see some of the other years. That should be something that some media reporters should be doing to earn their keep.

road kill

08-06-2012, 04:03 PM

How many remember Jackie Gleason on the Honeymooners?

"HOMINA....HOMINA....HOMINA..."

WH Distances Itself From Reid; Carney Says He "Speaks For Himself"

"The charge is not that Mitt Romney paid less than a factory worker, or whatever, but it's a bit more vicious than that from Harry Reid. He said he has an anonymous source telling him that [Romney] paid no taxes for something like 10 years. So the president has talked a lot about change in the tone of this town. Why hasn't he picked up the phone to ask Harry Reid to stop making a charge like that?" FOX News White House correspondent Ed Henry asked WH press secretary Jay Carney at today's briefing.

"I think the idea that people tell Harry Reid what to do is inconsistent with what everyone here understands to be [the case]," Carney responded.

Carney then referred to several campaign attacks on Romney such as paying a lower effective tax rate and outsourcing jobs.

"That's not the charge," Henry corrected Carney. "The charge is that he didn't pay taxes for ten years. Does the White House believe that allegation?"

"Yeah, I would refer you to Senator Reid. I can't -- only Senator Reid knows his source, which he has discussed. And I would refer you to that," Carney responded.

"Nancy Pelosi today said, 'Harry Reid made a statement that is true. Somebody told him it is a fact.' Do you agree with that rationale?" Henry pressed Carney.

"I haven't seen that statement," Carney claimed. "Again, I would refer you to Nancy Pelosi and Harry Reid."

"Harry Reid says he hasn't paid taxes in 10 years and that's just a fact?" Henry asked.

"I think the President is focused on -- and you hear him say this every day -- issues that matter to the American people," Carney said, suggesting that Reid's accusation is not an issue that matters.

At this point, ABC's Jon Karl jumps in to try to pry something out of Carney.

"One more on Harry Reid. It's a simple question. Does the president think that this allegation coming from Harry Reid, without any evidence, made on the Senate floor, is that below the belt? Does that cross the line?" Karl asked.

Carney responded by saying that President Obama believes in full disclosure of tax documents when you are running for the presidency.

"The issue here is one of transparency and, again, as the president sees it, in regards to his candidacy, one, it is an important tradition. It allows the American people to get a sense of the candidate's background," Carney said to the press.

"You can talk to Senator Reid. I'm sure he'll address this issue if you ask him. He certainly speaks for himself. The president is focused on the issues that matter most to the American people," Carney said.

Gerry Clinchy

08-06-2012, 10:55 PM

Gerry, when you go feeling all sorry for the small business owner, do you take into account benefits like being able to save up to $50k each year and being able to take a business deduction for it,

Not being an accountant, I haven't heard of this deduction.

and then being able to earn returns on it tax free in an IRA?

My understanding of the two types of IRAs is that in one (standard) you don't pay tax on the $ you deposit, but you will pay tax on it as you withdraw after retirement; 2) Roth IRA, you pay tax now on the $ you deposit, but when you withdraw you pay tax only on the interest accrued, because you already paid income tax on the principle.

In neither case, as I understand it, do you not pay tax on the income ... just pay the income tax at different times.

Does it bother you that the majority is limited to saving $5 or $6k a year that way? Don't get me wrong, I'm not complaining. I almost have enough to retire because of this benefit.

I believe that those who have pensions don't think much about the amount they could put into an IRA ... in fact, at least at one time, those who had pensions were not allowed to also have an IRA. I think you are trying to make simple comparisons when the breadth of this topic is really very complex.

Look on the bright side, anybody who is able to save well for their retirement means that they will not become a burden on the taxpayers in their later years. They won't have to go on Medicaid or other public assistance programs; and, even in their retirement, they will still be paying taxes to help those who are less fortunate.

duckheads

08-07-2012, 12:11 PM

Gerry, when you go feeling all sorry for the small business owner, do you take into account benefits like being able to save up to $50k each year and being able to take a business deduction for it, and then being able to earn returns on it tax free in an IRA? Does it bother you that the majority is limited to saving $5 or $6k a year that way? Don't get me wrong, I'm not complaining. I almost have enough to retire because of this benefit.

Well let's see as the owner of the company the portion that I contribute to my health insurance premiums can not be taken out before taxes where my employess portion is taken out before taxes under a section 125 plan.. My employees do not get 1099'd on the portion of premiums that the company pays for them but I get 1099'd on the portion the company pays for me. Plenty of benefits for the employees not afforded the owner(s) of companies. The feds get their share one way or another.

luvmylabs23139

08-07-2012, 12:22 PM

Gerry, when you go feeling all sorry for the small business owner, do you take into account benefits like being able to save up to $50k each year and being able to take a business deduction for it, and then being able to earn returns on it tax free in an IRA? Does it bother you that the majority is limited to saving $5 or $6k a year that way? Don't get me wrong, I'm not complaining. I almost have enough to retire because of this benefit.

I'm guessing that you are using the 15% rule to come up with the 5 to 6K numbers. But how many people who fall into that bracket put that money in savings vs buy a big screen TV which let me stress is not a need!!

Buzz

08-07-2012, 12:27 PM

I'm guessing that you are using the 15% rule to come up with the 5 to 6K numbers. But how many people who fall into that bracket put that money in savings vs buy a big screen TV which let me stress is not a need!!

Part of the reason that a whole slew of baby boomers are coming up on retirement completely unprepared...

luvmylabs23139

08-07-2012, 12:39 PM

Part of the reason that a whole slew of baby boomers are coming up on retirement completely unprepared...

And how many people that are leaching off of the taxpayers have big screen tv's Xboxes etc????
Lets require an iventory for food stamps section 8 etc. NO X BOXES NO Tvs etc. If you have that then sell it before you get my hard earned money!!!! BUMFACE CAN KISS MY ASS!!!!!

mngundog

08-07-2012, 01:14 PM

And how many people that are leaching off of the taxpayers have big screen tv's Xboxes etc????
Lets require an iventory for food stamps section 8 etc. NO X BOXES NO Tvs etc. If you have that then sell it before you get my hard earned money!!!! BUMFACE CAN KISS MY ASS!!!!!

Lets add to that, in you own a private jet/helicopter, limo, escalade or billion dollar manson stop leaching off the taxpayers.

duckheads

08-07-2012, 01:15 PM

And how many people that are leaching off of the taxpayers have big screen tv's Xboxes etc????
Lets require an iventory for food stamps section 8 etc. NO X BOXES NO Tvs etc. If you have that then sell it before you get my hard earned money!!!! BUMFACE CAN KISS MY ASS!!!!!

Please fix the broken record. It is getting very old.

With as much complaining and time spent here I certainly hope you are volunteering some time to local organizations to achieve your goal.

luvmylabs23139

08-07-2012, 01:29 PM

Please fix the broken record. It is getting very old.

With as much complaining and time spent here I certainly hope you are volunteering some time to local organizations to achieve your goal.
What is my broken record????? I don't want to pay for someone else??? HOw does my time have anything to do with the money the goobernment confiscates from me and gives to the leaches??? I can't get my money back that I EARNED !!! IN theory why do I owe more than was taken already?????? I owe zero to the leaches and demand my hard earned money returned to me!!!!

On the other end I have 3 working TDI dogs, reading with dogs, nursing home, pediatrics at the big childrens hospital, Ronald Mc'ds house etc. Combind I guess my dogs work about 16 hours a week.

luvmylabs23139

08-07-2012, 02:04 PM

Lets add to that, in you own a private jet/helicopter, limo, escalade or billion dollar manson stop leaching off the taxpayers.

UH how about we start with getting rid of refundable tax credits which is pure SOCIALISM. I work hard for my money why should the gooberment take from me what I worked for and give it o someone else???

If you bred it you feed it not me end of story!!!! PAY for what you bred and keep your grubby leeching paws off of my hard earned money end of story!!!!

gmhr1

08-07-2012, 03:14 PM

To those who think Romney hasn't paid taxes I have some ocean front property here in AZ I need to sell any offers

duckheads

08-07-2012, 03:36 PM

What is my broken record????? I don't want to pay for someone else??? HOw does my time have anything to do with the money the goobernment confiscates from me and gives to the leaches??? I can't get my money back that I EARNED !!! IN theory why do I owe more than was taken already?????? I owe zero to the leaches and demand my hard earned money returned to me!!!!

On the other end I have 3 working TDI dogs, reading with dogs, nursing home, pediatrics at the big childrens hospital, Ronald Mc'ds house etc. Combind I guess my dogs work about 16 hours a week.

If I must spell it out, i'm talking about volunteering time to political organizations that have the same goal as you. Or do you want to depend on others to do that? Time for people to put up or shut up! Time, money or both! You can complain all you want, but if you want something to change you have to work for that change!

Gerry Clinchy

08-17-2012, 09:29 AM

The latest ... the Obama campaign says that if Romney will release 3 more years of tax returns (a total of 5 years), they will refrain from any further questioning on whether he has released enough or should release more. They must want those 3 years pretty badly ... for some reason.

This was in response to Romney asserting that he hasn't paid less than 13% in taxes over the past 10 years (something McCain had alluded to in referring back to vetting Romney for possible 2008 VP).

Why am I so suspicious that I wonder if these people already have seen those returns? Obama campaigns have a track record for finding "confidential" and "sealed" information. But until Romney would release the returns himself they cannot use any information they have without revealing that someone at IRS or in the O campaign broke the law regarding confidentiality of tax returns.

Truthfully, I wonder why no one has reviewed Obama's returns carefully. A quick look revealed quickly that Obama gets a fair piece of change from "foreign" income (not notated which country) Nobody wonders about that income, it would appear. It would appear his book income is listed separately.

BonMallari

08-17-2012, 09:36 AM

The latest ... the Obama campaign says that if Romney will release 3 more years of tax returns (a total of 5 years), they will refrain from any further questioning on whether he has released enough or should release more. They must want those 3 years pretty badly ... for some reason.

This was in response to Romney asserting that he hasn't paid less than 13% in taxes over the past 10 years (something McCain had alluded to in referring back to vetting Romney for possible 2008 VP).

Why am I so suspicious that I wonder if these people already have seen those returns? Obama campaigns have a track record for finding "confidential" and "sealed" information. But until Romney would release the returns himself they cannot use any information they have without revealing that someone at IRS or in the O campaign broke the law regarding confidentiality of tax returns.

Truthfully, I wonder why no one has reviewed Obama's returns carefully. A quick look revealed quickly that Obama gets a fair piece of change from "foreign" income (not notated which country) Nobody wonders about that income, it would appear. It would appear his book income is listed separately.

call me stupid but they are trying to bully Romney into a fight and change the narrative, they want Mitt to provide the ammo....its a no win situation...if he releases them they say " see we told you he is a wealthy man with off shore accounts" if he doesnt they insinuate he is hiding something..The BHO campaign is changing the narrative, which is exactly what the Romney campaign response was, the issue is the country's issue NOT Mitt's returns

labraiser

08-17-2012, 09:38 AM

I think Obama should release ALL of his college transcripts and also his graduate thesis. Why does he spend millions to keep these documents sealed?

Gerry Clinchy

08-17-2012, 09:43 AM

call me stupid but they are trying to bully Romney into a fight and change the narrative, they want Mitt to provide the ammo....its a no win situation...if he releases them they say " see we told you he is a wealthy man with off shore accounts" if he doesnt they insinuate he is hiding something..The BHO campaign is changing the narrative, which is exactly what the Romney campaign response was, the issue is the country's issue NOT Mitt's returns
This would be part of the track record for previous O campaigns in IL.

huntinman

08-17-2012, 09:52 AM

Romney is going to tell him to pound sand...

Buzz

08-17-2012, 10:53 AM

I think Obama should release ALL of his college transcripts and also his graduate thesis. Why does he spend millions to keep these documents sealed?

What is your evidence that he has spent millions to keep those documents sealed?

College transcripts are private. No one gets them without your signed request, period. You don't need to spend a single penny to keep them "sealed."

Can you name me a single presidential candidate in the history of this country who has released his college transcripts?

gmhr1

08-17-2012, 11:12 AM

Why can't Obama deal with the mess this country's in if he spent half the amount of time dealing with the economy than Romneys taxes we would be in a much better situation. Hes a coward he cant talk about the economy, medicare all the issues because he doesn't have any answers and will be chewed up and spit out so keep throwing this stuff against the wall and see what sticks. Hes playing these games with our lives at stake. This is high school drama tell us what your going to do to fix us. He can't and he wont.

Buzz

08-17-2012, 11:16 AM

What is your evidence that he has spent millions to keep those documents sealed?

College transcripts are private. No one gets them without your signed request, period. You don't need to spend a single penny to keep them "sealed."

Can you name me a single presidential candidate in the history of this country who has released his college transcripts?

OK, I found this...

Most presidential nominees (at least of late) do not release their grades from college. Romney hasn't. John McCain disclosed his class rank in 2007, but not his grades. John Kerry made his Yale transcript public only after he lost the 2004 election. Sarah Palin didn't talk about her grades until after the 2008 election. One exception is Joe Biden, who released his undergraduate transcript in 1987 as a form of damage control.

huntinman

08-17-2012, 11:32 AM

OK, I found this...

Surprising you didn't mention the libs favorite target...

menmon

08-17-2012, 11:45 AM

I heard it from the horses mouth that he paid 13% over the past ten years and then said that with his charitable contributions it was more like 20%. Still a lot less than most american and me over the past 10 years. So he paid a little tax...whoopie dooo!

ARay11

08-17-2012, 11:50 AM

What is your evidence that he has spent millions to keep those documents sealed?

College transcripts are private. No one gets them without your signed request, period. You don't need to spend a single penny to keep them "sealed."

Can you name me a single presidential candidate in the history of this country who has released his college transcripts?

quick google search reveals few have released collegiate information (much less transcripts) The only transcript "released" was supposedly GWBush, but somebody said it wasnt released, it was hacked.

Very few have released FULL tax returns for multiple years. Also, interestingly, very few "first lady in waiting" have filed Jointly with their candidate husband ... and they do not typically release much if any of their tax returns. Many candidates have released "snap shots" or "summary" of their tax returns and not the full return.

Honestly now, how many presidential candidates were not uber-rich? I only found one candidate with a net worth of "only" $150,000....and he didnt win.

One of our most celebrated presidents ever, the original G-Dub, George Washington was worth an estimated $525 million dollars.... and those are dollars from the year 1789.
Today that would be equivalent to est. $13billion dollars.

gmhr1

08-17-2012, 11:51 AM

what a bully the Obama campaign is running, show us 5 years of taxes and we will stop picking on you. Knowing Romney wont and now we can talk about what he's hiding instead of talking about all the great things Obama has done and will do He's like the bully that says give me a quarter and you can cross the street. Time to stop making a fool of himself and bringing shame to the U.S.

BonMallari

08-17-2012, 11:55 AM

I heard it from the horses mouth that he paid 13% over the past ten years and then said that with his charitable contributions it was more like 20%. Still a lot less than most american and me over the past 10 years. So he paid a little tax...whoopie dooo!

percentage wise YES....but amount wise not even close....what did you expect him to pay ? 35%....if he did that he should fire the accountants that he hires. Surely even you advise your clients how to diminish their tax liabilities through their investments, I will even go so far to guess that you yourself try and use the tax code to your benefit and pay down the amount of taxes you owe....Do you think that John and Theresa Heinz Kerry paid 35% in taxes, hardly....what would you guess Buffett or Gates pay in taxes ?

huntinman

08-17-2012, 11:56 AM

I heard it from the horses mouth that he paid 13% over the past ten years and then said that with his charitable contributions it was more like 20%. Still a lot less than most american and me over the past 10 years. So he paid a little tax...whoopie dooo!

maybe you need a better CPA?

ARay11

08-17-2012, 12:04 PM

let's face it... the more you are worth, the fewer taxes you pay. That's the tax code. Who wrote the code?? Rich guys. Who would have to change the code? Rich guys. Are rich guys going to change the code?

I dont care if you are a democrat or republican.... you're not going to change the code if you're one of the rich guys and poor guys don't get elected.
Kinda like a fat kid wanting to win the NY marathon.... it just aint gonna happen cause he's in no condition to run.:razz:

menmon

08-17-2012, 12:23 PM

I think it is noteworthy news that Romney only paid 13% in taxes....it highlights the problem....the working man is paying more of their earnings than folks like Romney. I think people should know this and not be happy with it.

road kill

08-17-2012, 12:28 PM

I think it is noteworthy news that Romney only paid 13% in taxes....it highlights the problem....the working man is paying more of their earnings than folks like Romney. I think people should know this and not be happy with it.
So, this would disqualify someone from federal office?
You know, not paying as much as "YOU" think they should in taxes?

I'm curious, what are your thoughts on those who didn't even file???:cool:

huntinman

08-17-2012, 12:28 PM

I think it is noteworthy news that Romney only paid 13% in taxes....it highlights the problem....the working man is paying more of their earnings than folks like Romney. I think people should know this and not be happy with it.

Shows how biased and one sided you really are. Bon asked you a question about the percentage of taxes paid by famous lib millionaires or billionaires... You of course ignore that.

menmon

08-17-2012, 02:53 PM

They are not running for president. I think if they are spending my money they should be contributing their fair share...don't you?

menmon

08-17-2012, 02:54 PM

You have not heard me say that rich people should not pay more taxes. They use more thus should pay more.

road kill

08-17-2012, 02:55 PM

They are not running for president. I think if they are spending my money they should be contributing their fair share...don't you?
If Romney makes as much as you insinuate, and pays at a rate of 13%, he pays more than enough.

huntinman

08-17-2012, 03:23 PM

They are not running for president. I think if they are spending my money they should be contributing their fair share...don't you?

I think he does pay his fair share as does everyone else that abides by the current law and pays their taxes. On the other hand we have plenty of takers who don't pay a damn thing but have their hand out wanting more... A change in the tax system is in order to collect something from all.

Uncle Bill

08-17-2012, 03:36 PM

Fun to watch the "Samboites" on here stick up for the vapod views of such Democrat leaders as 'Dingy' Harry Reid. It's too amusing having someone that is such a mental midget as he is, questioning someone elses tax records. Yo, Harry, you simpleton, we'll worry about Romney's tax payments when an ignoramus like you can answer the facts in this article:

Fun to watch the "Samboites" on here stick up for the vapod views of such Democrat leaders as 'Dingy' Harry Reid. It's too amusing having someone that is such a mental midget as he is, questioning someone elses tax records. Yo, Harry, you simpleton, we'll worry about Romney's tax payments when an ignoramus like you can answer the facts in this article:

Don't be too hard on them UB. they aren't so stupid to say "Wait a minute. After my taxes were computed, taking only legitimite deductions, my taxes came to less than my fair share SO I WILL JUST WRITE A CHECK FOR MORE IN ORDER THAT I PAY MY FAIR SHARE!!!!!" They aren't that stupid.;-)

BonMallari

08-17-2012, 04:06 PM

OK, I found this...

Jimmy Carter and John McCain's class rankings at the Naval Academy are clear evidence of their grades...its public record...Carter graduated 59th out of 820...McCain 894th of 899...if they went to West Point it would have been the same

menmon

08-17-2012, 04:07 PM

It is not that simple. A lot of energy went into assuring that our president wantabe only had to pay 13% instead of 35%. And if elected, he will assure that him and his buddies can still avoid paying 35%. Hell 1% of Exxon's earning is a lot of money and more than most pay. Do you want to get 35% or 1%. 1% of the guy making $10 want buy a cup of coffee. But lets not tax the fortunate and tax the unfortunate....makes sense I guess if you are fortunate....hummm

ARay11

08-17-2012, 04:14 PM

It is not that simple. A lot of energy went into assuring that our president wantabe only had to pay 13% instead of 35%. And if elected, he will assure that him and his buddies can still avoid paying 35%. Hell 1% of Exxon's earning is a lot of money and more than most pay. Do you want to get 35% or 1%. 1% of the guy making $10 want buy a cup of coffee. But lets not tax the fortunate and tax the unfortunate....makes sense I guess if you are fortunate....hummm

Was the income from wages or capital gains? If I remember right.... I think Romney did not take a salary as gov. So, I am guessing his income is from capital gains. Nothing wrong with that, and it sounds like he's paying what is due.

Also, if you think it's okay for me to pay $60,000 in taxes, I would think you would be thrilled with the guy that pays in $2,600,000 dollars.

Not to mention his charitable donations which exceed $2,000,000.00 annually.

$ Four Million Six Hundred Thousand Dollars in "giving back" to his country.

And we should be mad about this why?

Uncle Bill

08-17-2012, 04:31 PM

It is not that simple. A lot of energy went into assuring that our president wantabe only had to pay 13% instead of 35%. And if elected, he will assure that him and his buddies can still avoid paying 35%. Hell 1% of Exxon's earning is a lot of money and more than most pay. Do you want to get 35% or 1%. 1% of the guy making $10 want buy a cup of coffee. But lets not tax the fortunate and tax the unfortunate....makes sense I guess if you are fortunate....hummm

Recognizing I'm avoiding my #2 rule in responding to posters on this board, the IHOP fruit loop has again PO'd me enough I must respond.

You are so filled with class envy, it will be impossible for anyone to reason with you. What part of this,

10. Only in
>
> Democrat America: could the rich people who pay 86% of all income taxes be
> accused of not paying their “fair share” by people who don’t pay any income
> taxes at all.

which I copied from my other thread. For all the 'smarts' you profess to have, you may be the most lost of all the fools that continue to sycophantishly follow Obama. If you weren't such a joke, most of us would probably pity you for being so blind.

UB

mngundog

08-17-2012, 06:30 PM

Don't be too hard on them UB. they aren't so stupid to say "Wait a minute. After my taxes were computed, taking only legitimite deductions, my taxes came to less than my fair share SO I WILL JUST WRITE A CHECK FOR MORE IN ORDER THAT I PAY MY FAIR SHARE!!!!!" They aren't that stupid.;-)
You make we laugh, if only I could fly my family to Europe for vacation on my own private jet and declare it a business expense.

caryalsobrook

08-17-2012, 07:29 PM

You make we laugh, if only I could fly my family to Europe for vacation on my own private jet and declare it a business expense.

So you don't like the income tax with its 70,000 pages of tax code. Well neither do I. I would think even an idiot would realize that it is a totally failed system of taxes but sit there and argue over what the amount of graduated income tax rate should be. I guarantee if Romney flew his wife and children to Europe, he either paid tax on the trip or justified it as a business trip BY THEIR DOING SOME BUSINESS, or the IRS would not allow it. Robert Kennedy Jr. draws a salary from his family tax free foundation and flies all over in the private jet for free on the foundation jet. The first lady and her girls flew to Paris to buy clothes but I assure you she met with some public figure or did something to call it a business trip.

As for flying to Europe or your private jet, first you have to make enough money to buy the jet and actually many do. Then you have to want to go to Europe. As for me, I managed to pay my high school son during the summer for working for me. Paid his SS and medicare taxes and his withholding which he gotback since hd didn't make enough to owe income taxes. Sometimes I might have paid him even if he didn't show up for work on a day. but then again I had to start a business to be able to hire him. Oh I forgot I didn't start the business.

Sabireley

08-17-2012, 08:10 PM

Was the income from wages or capital gains? If I remember right.... I think Romney did not take a salary as gov. So, I am guessing his income is from capital gains. Nothing wrong with that, and it sounds like he's paying what is due.

Also, if you think it's okay for me to pay $60,000 in taxes, I would think you would be thrilled with the guy that pays in $2,600,000 dollars.

Not to mention his charitable donations which exceed $2,000,000.00 annually.

$ Four Million Six Hundred Thousand Dollars in "giving back" to his country.

And we should be mad about this why?

Exactly!

..........

mjh345

08-17-2012, 08:36 PM

So you don't like the income tax with its 70,000 pages of tax code. Well neither do I. I would think even an idiot would realize that it is a totally failed system of taxes but sit there and argue over what the amount of graduated income tax rate should be. I guarantee if Romney flew his wife and children to Europe, he either paid tax on the trip or justified it as a business trip BY THEIR DOING SOME BUSINESS, or the IRS would not allow it. Robert Kennedy Jr. draws a salary from his family tax free foundation and flies all over in the private jet for free on the foundation jet. The first lady and her girls flew to Paris to buy clothes but I assure you she met with some public figure or did something to call it a business trip.

As for flying to Europe or your private jet, first you have to make enough money to buy the jet and actually many do. Then you have to want to go to Europe. As for me, I managed to pay my high school son during the summer for working for me. Paid his SS and medicare taxes and his withholding which he gotback since hd didn't make enough to owe income taxes. Sometimes I might have paid him even if he didn't show up for work on a day. but then again I had to start a business to be able to hire him. Oh I forgot I didn't start the business.

Im not your attorney and you're not my client; however if you were my client I would have to strongly advise you to be careful about posting info such as this on a public forum!!!!

HPL

08-17-2012, 09:54 PM

It is not that simple. A lot of energy went into assuring that our president wantabe only had to pay 13% instead of 35%. And if elected, he will assure that him and his buddies can still avoid paying 35%. Hell 1% of Exxon's earning is a lot of money and more than most pay. Do you want to get 35% or 1%. 1% of the guy making $10 want buy a cup of coffee. But lets not tax the fortunate and tax the unfortunate....makes sense I guess if you are fortunate....hummm

I have a couple of problems with this post. First, FOR GOD'S SAKE WOULD YOU PLEASE TURN ON SPELL CHECK AND PROOF READ YOUR POSTS!! Just God awful much of the time.

I also have to take some issue with the term "fortunate". That could be interpreted as implying that those with money "didn't make it themselves" but some how just had it plopped down in their laps. In some cases this may actually be the case, but I believe that you will find that a pretty significant portion of our current crop of millionaires and billionaires have actually made their own fortunes.

Seems to me that the reason Romney is able to pay lower rates is because he is willing to take risks with his money by investing in businesses providing the capital for them to operate or expand, thus providing employment for many people. Perhaps he is even buying tax free municipal bonds providing cities with needed capital for infrastructure improvement and such. We are now seeing that even munis come with risk as cities declare bancruptcy. I don't like paying taxes, and I don't particularly like the current system, but since I am in the lowest tax bracket that actually pays taxes (not because I have a smart accountant but because I don't make much money), and if I am not overcome by class envy I don't see why some of you in the top bracket should be telling me that Romney is not paying enough.

huntinman

08-17-2012, 10:13 PM

Cary, don't use spell check till Sambo does! His spelling is at least twice as bad!! Make 'em suffer...

caryalsobrook

08-18-2012, 07:23 AM

Cary, don't use spell check till Sambo does! His spelling is at least twice as bad!! Make 'em suffer...

Bill, I tried spell check once and it didn't work so I just have to show that I am a poor speller. I do like to think that my grammar is better than an 8th grader. Oops, an 8 grader when I went to grammar school. I guess now, it would be a senior!:p

caryalsobrook

08-18-2012, 07:33 AM

Im not your attorney and you're not my client; however if you were my client I would have to strongly advise you to be careful about posting info such as this on a public forum!!!!
I assure you that nothing I have said violates the IRS tax code. My taxes have always been done by a CPA with complete and accurate information. My nephew is a graguate of Duke Law school and has a masters from Columbia in tax law. He is an international tax lawyer and a senior partner in the Office in Florida of a very large law firm of the US. I have only been audited once, the first year I was in private practice for the last 2 months of the year. Problem was caused by the failure of the state of Tennessee to issue me a 1099 for the work I did. Personally, I don't think my tax advise could be better. All information is provided to my CPA and he makes the decisions. It has worked for 40 years so I can't complain.

menmon

08-18-2012, 10:29 AM

I have a couple of problems with this post. First, FOR GOD'S SAKE WOULD YOU PLEASE TURN ON SPELL CHECK AND PROOF READ YOUR POSTS!! Just God awful much of the time.

I also have to take some issue with the term "fortunate". That could be interpreted as implying that those with money "didn't make it themselves" but some how just had it plopped down in their laps. In some cases this may actually be the case, but I believe that you will find that a pretty significant portion of our current crop of millionaires and billionaires have actually made their own fortunes.

Seems to me that the reason Romney is able to pay lower rates is because he is willing to take risks with his money by investing in businesses providing the capital for them to operate or expand, thus providing employment for many people. Perhaps he is even buying tax free municipal bonds providing cities with needed capital for infrastructure improvement and such. We are now seeing that even munis come with risk as cities declare bancruptcy. I don't like paying taxes, and I don't particularly like the current system, but since I am in the lowest tax bracket that actually pays taxes (not because I have a smart accountant but because I don't make much money), and if I am not overcome by class envy I don't see why some of you in the top bracket should be telling me that Romney is not paying enough.

People are fortunate for many reasons. I think I have had fortune in my life time and have been unfortunate at times too. But because I have been fortunate and pay a lot in tax should not get me a better ride than the guy who has not yet had my good fortune.

At the end of the day, taxes will be collected....I just think the fortunate should pay as much of a percentage of their earnings as the less fortunate. I can't believe anyone would argue this. They clearly have you hoodwinked as to move their agenda.

menmon

08-18-2012, 10:35 AM

Was the income from wages or capital gains? If I remember right.... I think Romney did not take a salary as gov. So, I am guessing his income is from capital gains. Nothing wrong with that, and it sounds like he's paying what is due.

Also, if you think it's okay for me to pay $60,000 in taxes, I would think you would be thrilled with the guy that pays in $2,600,000 dollars.

Not to mention his charitable donations which exceed $2,000,000.00 annually.

$ Four Million Six Hundred Thousand Dollars in "giving back" to his country.

And we should be mad about this why?

Do you know what the capital gain tax rate is? If you did, you would know that he did not even pay as much as the capital gains tax rate. It's like these guys are your heros and if they can game the system and avoid paying taxes that is ok with you. However, those of us that can't game the system pick up the shortfall. This is like making Al Copone your hero.

ARay11

08-18-2012, 10:43 AM

People are fortunate for many reasons. I think I have had fortune in my life time and have been unfortunate at times too. But because I have been fortunate and pay a lot in tax should not get me a better ride than the guy who has not yet had my good fortune.

At the end of the day, taxes will be collected....I just think the fortunate should pay as much of a percentage of their earnings as the less fortunate. I can't believe anyone would argue this. They clearly have you hoodwinked as to move their agenda.

HEHEHEHE.... ok, Sambo..... I Will GLADLY take the same percentage as the bottom 10% of Americans!! Heck, I would take the same percentage as the bottom FIFTY percent.

Let's get REAL.... the only people being hurt by the current tax code are the idiots like me stuck in the middle trying to earn an upper middle class income and getting taxed to death because of it.

The "POOR" and "LESS FORTUNATE" have a NEGATIVE EFFECTIVE TAX RATE!!!!!!! THEY GET PAID!!!!!!
The "RICH" pay MILLIONS and yet the POOR are still mad about it. WTF???

Do you know what the capital gain tax rate is? If you did, you would know that he did not even pay as much as the capital gains tax rate. It's like these guys are your heros and if they can game the system and avoid paying taxes that is ok with you. However, those of us that can't game the system pick up the shortfall. This is like making Al Copone your hero.

Perhaps you do not understand Capital Gains tax rates.... so here's a chart to help you. Seller's personal income tax rate: Not sure what tax bracket Romney would be in...because he hasn't taken an actual salary as gov. So, if all his income were from cap gains, and were long term held assets, he would owe zero dollars....Somewhere in the middle is where he most likely falls in this regard.

menmon

08-18-2012, 11:05 AM

HEHEHEHE.... ok, Sambo..... I Will GLADLY take the same percentage as the bottom 10% of Americans!! Heck, I would take the same percentage as the bottom FIFTY percent.

Let's get REAL.... the only people being hurt by the current tax code are the idiots like me stuck in the middle trying to earn an upper middle class income and getting taxed to death because of it.

The "POOR" and "LESS FORTUNATE" have a NEGATIVE EFFECTIVE TAX RATE!!!!!!! THEY GET PAID!!!!!!
The "RICH" pay MILLIONS and yet the POOR are still mad about it. WTF???

The less fortunate should not pay more so the fortunate can pay less.....listen to what I'm saying. Better yet listen to Ryan. His plan is to cut spending so he can lower taxes to the people that are fine.

Perhaps you do not understand Capital Gains tax rates.... so here's a chart to help you. Seller's personal income tax rate: Not sure what tax bracket Romney would be in...because he hasn't taken an actual salary as gov. So, if all his income were from cap gains, and were long term held assets, he would owe zero dollars....Somewhere in the middle is where he most likely falls in this regard.

You made my point...capital gain taxes are 15%, so if all his income was from the sell of assets held for more than a year, he would have paid 15% not 13%

HPL

08-18-2012, 11:53 AM

You made my point...capital gain taxes are 15%, so if all his income was from the sell of assets held for more than a year, he would have paid 15% not 13%

Actually, I'm no expert, but it would appear to me that if ALL his income were from capital gains from the sale of assets held for more than one year, his personal income tax rate couldn't be more than the max rate on Capital Gains on assets held more than one year which is 15% at which rate he would actually owe 0% for the capital gains.
And if these guys can work the system, why can't someone in the upper middle income bracket work it too?

ARay11

08-18-2012, 11:56 AM

You made my point...capital gain taxes are 15%, so if all his income was from the sell of assets held for more than a year, he would have paid 15% not 13%

Pretty sure there's still a deduction for the 2 MILLION dollars he gave to charity. And, if he had zero taxable income (he took no salary as gov) ....and the assets were long term, there would be a zero tax liability. Maybe he paid more than he had to? :confused: nahh....I'm not that silly

road kill

08-18-2012, 12:55 PM

the less fortunate should not pay more so the fortunate can pay less.....listen to what i'm saying. Better yet listen to ryan. His plan is to cut spending so he can lower taxes to the people that pay taxes.

fixed!!!!!

menmon

08-18-2012, 12:56 PM

Pretty sure there's still a deduction for the 2 MILLION dollars he gave to charity. And, if he had zero taxable income (he took no salary as gov) ....and the assets were long term, there would be a zero tax liability. Maybe he paid more than he had to? :confused: nahh....I'm not that silly

If he had no ordinary income and then the charitable contributions would have been carried forward reducing his taxable income in the future.

My guess is the income he earned in off-shore accounts was not taxed therefore, the US tax expense as a total of his reported income made the percentage of income lower. Now that is ok because if he repatriates the money it will be taxed. But if he gets elected, his plan is to reduce the tax rate of earnings come back to the US. Very self-serving is how I see it. Furthermore, it encourages earnings overseas because they are taxed less when returning.

ARAY this is not fair to us and is damaging to job creation. I don't like paying taxes no more than the next guy but avoidance of paying should not be someone's top priority, especially when you earn what this guy does and have his wealth.

menmon

08-18-2012, 12:59 PM

fixed!!!!!

Cuts yours a few hundred dollars and cuts Romneys a few million dollars, and you will still be whinning about the ballooning debt. Can't have your cake and eat it too Stan

Gerry Clinchy

08-18-2012, 01:48 PM

If he had no ordinary income and then the charitable contributions would have been carried forward reducing his taxable income in the future.

My guess is the income he earned in off-shore accounts was not taxed therefore, the US tax expense as a total of his reported income made the percentage of income lower. Now that is ok because if he repatriates the money it will be taxed. But if he gets elected, his plan is to reduce the tax rate of earnings come back to the US. Very self-serving is how I see it. Furthermore, it encourages earnings overseas because they are taxed less when returning. Two sides to the coin. If that capital came back tot he US now, it could be useful to the economy. If it stays wherever it is now, it helps some other economy and Treasury gets no tax revenue on it. Is it better to bring it back, help the economy and generate some Treasury tax revenue from the capital that is injected into the economy.

ARAY this is not fair to us and is damaging to job creation. I don't like paying taxes no more than the next guy but avoidance of paying should not be someone's top priority, especially when you earn what this guy does and have his wealth. I thought that we were a nation of law ... and these people have obeyed the law. Maybe someone would rather give extra to a charity that is known for effective use of its funds ... rather than a govt that is well-known for the way it wastes so much? Or maybe they would like to invest the money in a company that will create jobs? Treasury then gets revenue again. Wealth does not emanate from govt ... since govt starts out with zero money, until it comes to govt in the form of taxes paid by those who generate the wealth.

Interestingly, read an interesting article on how the Golden Gate Bridge was NOT funded by govt. It was privately funded by sale of bonds by counties involved due to the need for such a bridge due need for commerce. Also, interesting the bonds were paid off by tolls by the users of the bridge. And it was paid off on time; then generated a surplus, so the tolls could be removed. Obama referred to this bridge being provided by govt ... not quite the case. There was mention of another bridge in the same general area that WAS built by govt funding, but it wasn't the Golden Gate.

ARay11

08-18-2012, 02:15 PM

If he had no ordinary income and then the charitable contributions would have been carried forward reducing his taxable income in the future.

My guess is the income he earned in off-shore accounts was not taxed therefore, the US tax expense as a total of his reported income made the percentage of income lower. Now that is ok because if he repatriates the money it will be taxed. But if he gets elected, his plan is to reduce the tax rate of earnings come back to the US. Very self-serving is how I see it. Furthermore, it encourages earnings overseas because they are taxed less when returning.

ARAY this is not fair to us and is damaging to job creation. I don't like paying taxes no more than the next guy but avoidance of paying should not be someone's top priority, especially when you earn what this guy does and have his wealth.

So, if the tax rate on repatriating money is lowered, will more people do it? So, we can have part of something or all of the nothing we have now??

The entire tax code needs to be revised/revamped/ re-invented.

Until then, we can't complain about a rich guy making money, creating jobs, and PAYING his tax bill.

mngundog

08-18-2012, 04:20 PM

So you don't like the income tax with its 70,000 pages of tax code. Well neither do I. I would think even an idiot would realize that it is a totally failed system of taxes but sit there and argue over what the amount of graduated income tax rate should be. I guarantee if Romney flew his wife and children to Europe, he either paid tax on the trip or justified it as a business trip BY THEIR DOING SOME BUSINESS, or the IRS would not allow it. Robert Kennedy Jr. draws a salary from his family tax free foundation and flies all over in the private jet for free on the foundation jet. The first lady and her girls flew to Paris to buy clothes but I assure you she met with some public figure or did something to call it a business trip.

As for flying to Europe or your private jet, first you have to make enough money to buy the jet and actually many do. Then you have to want to go to Europe. As for me, I managed to pay my high school son during the summer for working for me. Paid his SS and medicare taxes and his withholding which he gotback since hd didn't make enough to owe income taxes. Sometimes I might have paid him even if he didn't show up for work on a day. but then again I had to start a business to be able to hire him. Oh I forgot I didn't start the business.
When the tax code allows you to write off almost all your hobbies, family vacations, dinners out, season tickets............ it becomes a complete fallacy that these guys are paying 35% of their income in taxes, that's all I'm saying. I was talking about the wealthy in general, not Romney.

huntinman

08-18-2012, 06:30 PM

People are fortunate for many reasons. I think I have had fortune in my life time and have been unfortunate at times too. But because I have been fortunate and pay a lot in tax should not get me a better ride than the guy who has not yet had my good fortune.

At the end of the day, taxes will be collected....I just think the fortunate should pay as much of a percentage of their earnings as the less fortunate. I can't believe anyone would argue this. They clearly have you hoodwinked as to move their agenda.

So quit whining and get out your checkbook and send some more money to uncle sam... pretty simple...

mngundog

08-18-2012, 07:24 PM

So quit whining and get out your checkbook and send some more money to uncle sam... pretty simple...
What? You lost me there. Are you saying by cutting a check to the Gov. they will suddenly change the tax code?

caryalsobrook

08-18-2012, 08:03 PM

When the tax code allows you to write off almost all your hobbies, family vacations, dinners out, season tickets............ it becomes a complete fallacy that these guys are paying 35% of their income in taxes, that's all I'm saying. I was talking about the wealthy in general, not Romney.

That is exactly why I say an income tax is fatally flawed. A comsumption tax and no income tax eliminates all of that. No it is not perfect but sure as hell beats the income tax with its 70,000 pages of deductions. A good example is Pil Michaelson or Tiger woods when he was married. How do you decide on the legidimate deduction if either takes his wife to a golf tournament on their private jet and the wife goes to the beach and shopping. the fact is that you can't. How anybody could possibly think that a tax code with 70,000 pages is reasonable has to be crazy. There is no way you can justify it. Just my thoughts.

HPL

08-18-2012, 08:37 PM

When the tax code allows you to write off almost all your hobbies, family vacations, dinners out, season tickets............ it becomes a complete fallacy that these guys are paying 35% of their income in taxes, that's all I'm saying. I was talking about the wealthy in general, not Romney.

Wealthy is a relative term. Most of you guys look rolling rich to me but you haven't heard me suggest that any of you need to give more to the gov than you already are nor have I been out looking for you to give it to me with out me doing something to earn it.

road kill

08-18-2012, 09:07 PM

If the only thing you progressives have to run on is Romneys taxes...................

"you in a heap a trouble!"

menmon

08-19-2012, 11:47 AM

If the only thing you progressives have to run on is Romneys taxes...................

"you in a heap a trouble!"

No but people need to now what he is all about, and they are learning:cool:

menmon

08-19-2012, 12:01 PM

I thought that we were a nation of law ... and these people have obeyed the law. Maybe someone would rather give extra to a charity that is known for effective use of its funds ... rather than a govt that is well-known for the way it wastes so much? Or maybe they would like to invest the money in a company that will create jobs? Treasury then gets revenue again. Wealth does not emanate from govt ... since govt starts out with zero money, until it comes to govt in the form of taxes paid by those who generate the wealth.

Interestingly, read an interesting article on how the Golden Gate Bridge was NOT funded by govt. It was privately funded by sale of bonds by counties involved due to the need for such a bridge due need for commerce. Also, interesting the bonds were paid off by tolls by the users of the bridge. And it was paid off on time; then generated a surplus, so the tolls could be removed. Obama referred to this bridge being provided by govt ... not quite the case. There was mention of another bridge in the same general area that WAS built by govt funding, but it wasn't the Golden Gate.

That is a tired argument. You don't think that money in foriegn countries can't be invested in companies here. It is done every second of the day. Furthermore, corporations and individuals have massive cash setting around with nothing to invest in. In fact some soverigns have negative interest rates.

That is a way for the rich to bring money home with out paying tax....put it overseas to avoid tax and now want to bring it home and pay no tax. Good trade if you can do it....be we aren't those guys!

Uncle Bill

08-19-2012, 02:10 PM

One of my favorite conservative writers, R. Emmitt Tyrrell, editor of the American Spectator, tells us Dingy Harry is having an affair with a cow. I find that more believable than Romney not paying taxes for 10 years.

It's certainly amusing watching all the socialists worried about so much of 'their' money slipping away because the IRS can't get their grubby fingers on it so the SFN crowd has more handouts and government freebies.

Do any of the lefties think additional tax income will have anything to do with lowering the debt...or balancing the budget? HOW MUCH MORE DO YOU SPENDTHRIFTS NEED???

UB

HPL

08-19-2012, 02:59 PM

It's certainly amusing watching all the socialists worried about so much of 'their' money slipping away because the IRS can't get their grubby fingers on it.

Does anyone think additional tax income will have anything to do with lowering the debt...or balancing the budget?

UB

These two sentences (with a little modification by me) are probably most to the point. Both parties need to mend their spendthrift ways.

I do believe though that Obama and his followers have a very different image as to what this nation should be relative to the principles on which the nation was founded. I do think that they think that although the socialist model has failed pretty much everywhere else that somehow they can arrange it so that we will be the exception. Not really the way I want things to go.